Titan Machinery Inc. (NASDAQ:TITN) Receives $45.33 Average Target Price from Analysts

Shares of Titan Machinery Inc. (NASDAQ:TITN) have received an average rating of “Buy” from the four brokerages that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $45.33.

A number of brokerages have recently commented on TITN. TheStreet cut shares of Titan Machinery from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Stephens reissued an “overweight” rating and set a $42.00 price target on shares of Titan Machinery in a report on Friday, January 12th.

Titan Machinery Stock Performance

Shares of TITN stock opened at $22.70 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.19 and a debt-to-equity ratio of 0.16. Titan Machinery has a 12 month low of $21.44 and a 12 month high of $35.88. The company has a market cap of $518.01 million, a P/E ratio of 4.60 and a beta of 1.41. The firm has a fifty day moving average price of $24.50 and a 200 day moving average price of $25.72.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Thursday, March 21st. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. Titan Machinery had a net margin of 4.08% and a return on equity of 18.40%. The company had revenue of $852.10 million during the quarter, compared to the consensus estimate of $734.99 million. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Titan Machinery’s revenue for the quarter was up 46.2% on a year-over-year basis. Sell-side analysts predict that Titan Machinery will post 3.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC grew its position in Titan Machinery by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 23,303 shares of the company’s stock worth $673,000 after buying an additional 391 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Titan Machinery by 3.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,252 shares of the company’s stock valued at $432,000 after purchasing an additional 469 shares during the last quarter. Deutsche Bank AG grew its position in shares of Titan Machinery by 0.5% in the third quarter. Deutsche Bank AG now owns 284,603 shares of the company’s stock valued at $7,565,000 after purchasing an additional 1,312 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Titan Machinery by 13.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,583 shares of the company’s stock valued at $335,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Truvestments Capital LLC grew its position in shares of Titan Machinery by 30.7% in the third quarter. Truvestments Capital LLC now owns 7,367 shares of the company’s stock valued at $196,000 after purchasing an additional 1,731 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.